Check out the companies making headlines before the bell:
Deere (DE) – Deere fell 5.2% in premarket trading after the heavy-equipment maker missed quarterly profit estimates despite higher-than-expected sales. Deere earned $6.16 per share, below the consensus estimate of $6.69, as it successfully implemented price increases but also faced higher costs. The company also cut its forecast for the full year.
Foot Locker (FL) – Foot Locker jumped 17.4% in the pre-market after the athletic footwear and apparel retailer’s quarterly profits beat analysts’ forecasts, and the company also announced a transition from CEO. Former Ulta Beauty (ULTA) CEO Mary Dillon will replace Richard Johnson as CEO on September 1.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond plunged 42.7% in premarket trading after news that investor Ryan Cohen had sold his entire stake in the home goods retailer, generating a profit of more than 58 million dollars.
Ross Stores (ROST) – Ross Stores reported better-than-expected earnings for its latest quarter, but its revenue fell short of Wall Street forecasts, and the company released a weaker-than-expected full-year outlook. The company said its results were impacted by higher costs as well as increased promotional activity. The stock fell 1% in premarket action.
Applied Materials (AMAT) – Applied Materials beat estimates by 15 cents with adjusted quarterly earnings of $1.94 per share, and the semiconductor manufacturing equipment maker also saw revenue beat its forecast. He also gave an upbeat revenue forecast for the current quarter as chipmakers ramp up production.
Coinbase (COIN) – Shares of the crypto exchange operator slid 8.6% in premarket trading, falling in sympathy with the sudden overnight plunge in bitcoin prices. Microstrategy (MSTR), the trade analytics firm with vast bitcoin holdings, saw its stock fall 9.3%.
Home Depot (HD) – Home Depot has announced a new $15 billion stock repurchase program, replacing a pre-clearance. The home improvement retailer also announced that CEO Ted Decker will replace former CEO Craig Menear as chairman, effective October 1.
Madison Square Garden Entertainment (MSGE) – Madison Square Garden Entertainment rose 7.3% in the pre-market following news that its board of directors is considering a spin-off that would contain the live entertainment business and MSG Networks of the company.
Bill.com (BILL) – Bill.com jumped 18.5% in premarket trading after the financial back-office software provider reported better-than-expected quarterly results and issued an upbeat forecast.